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GST: Relief for SMEs, threshold for composition scheme raised

Goods and Services Tax - GST - Dated:- 6-10-2017 - New Delhi, Oct 6 (PTI) In a relief to small and medium enterprises, the GST Council on Friday raised the turnover threshold to ₹ 1 crore for businesses to avail of the composition scheme that a .....

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axpayers to avail of the so-called Composition Scheme if their turnover is less than ₹ 1 crore as against the previous limit of ₹ 75 lakh. The GST Council, headed by Finance Minister Arun Jaitley, at its 22nd meeting reached consensus on .....

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el to consider rationalising GST rate for restaurants, he added. So far over 15 lakh out of the 90 lakh registered businesses have opted for the composition scheme. The tax rate for traders of goods in the composition scheme is 1 per cent, while it i .....

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